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CHANGE IN RATINGS
Alcon (ACL Quote) upgraded at Wachovia to Outperform based on valuation. Note that shares trade at 13 times forward estimates and lowest premium to S&P 500 in five years. Believe 3.2% dividend yield is relatively safe. Valuation range of $105 to $110.
Cabot Oil & Gas (COG Quote) downgraded at Morgan Stanley to Equal-weight. Stock has outperformed its peers, but execution risk rises as the company increases development in Appalachia and East Texas.
Limited Brands (LTD Quote) downgraded at Citigroup from Buy to Hold. $9.50 price target. Stock up 31% since Nov. 20, and near-term consensus estimates remain too high. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,341.82 | 1,095.15 | 2,139.52 | 32.27 |
Oil *
77.51
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UP
31.90
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UP
3.66
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UP
1.08
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DOWN
0.04
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10 Yr
3.23%
SPDR Gold
115.31
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+0.31%
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+0.34%
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+0.05%
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-0.12%
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